by Nicolette S.
Now more than ever when the world is uncertain, and the market is fluctuating it is important for everyone to have a budget. But remembering how much you have spent and tracking your money can be tricky. As young adults we rely the most on technology so why don’t we rely on technology to help manage our money and keep us on track?
Here are my favorite FREE budgeting apps:
1. Mint
Mint is a part of Intuit, the creator of TurboTax and QuickBooks, and has over 20 million users. They use bank-level encryption and monitoring to secure your account, so you never have to worry about safety. Mint budgets for your goals, credit score and financial well-being. It offers financial advice and goal setting technology to track and monitor your progress. Mint shows all of your accounts in one place including balances, spending, credit score, net worth and more. Creating a budget is easy with Mint by knowing how much money you have left to spend each day. You can also set up bill payment reminders, so you know what is due and when. It is a great tool to monitor your cash flows and stay on top of your finances!
2. Pocket Guard
Pocket Guard also allows you to sync up all of your accounts to see them at once. It can help you see where you are overspending and how to cut back. It helps you see what is actually in your pocket at all times and where your money is coming from. It also provides the math in order to calculate how much you need to save or if you can afford something you are looking to buy. This can release the stress of constantly worrying about how to pay for things and keeping your budget in your head. Pocket Guard also automatically plans for future payments and its algorithm can show you where you might be able to cut back on certain bills. It may also cancel subscriptions for you that you no longer use, along with setting your financial goals. Pocket Guard has a unique feature that allows you to link up with AutoSave to watch your savings grow. AutoSave holds your savings at the depository institution and are secured by the FDIC up to $250,000.
3. You Need A Budget (YNAB)
YNAB claims that they will help you break the paycheck to paycheck cycle, get out of debt, and save. On average, new users save $600 in the first two months, and more than $6,000 in the first year. Much like Mint and Pocket Guard, YNAB also allows you to sync up to all of your bank accounts. They have key features such as, debt pay down that teaches you how to get out of debt for good and detailed reports that give you a visual on your financial patterns. As a visual learner the reports are very helpful to me. YNAB also offers personal support that is available in chat and email to answer your questions, along with workshops to improve your financial literacy knowledge!
Don’t wait, download a budgeting app now and get to saving!